Practical Law Glossary Item 6-382-3394 (Approx. 2 pages)
Glossary
Delaware Limited Liability Company Act
Delaware statutes governing limited liability companies (LLCs) which can be found in Chapter 18 of Title 6 of the Delaware Code. It provides, among other things, laws relating to the formation, management, governance, mergers, and dissolution of LLCs. However, LLCs are largely governed by contract and Delaware allows an LLC to opt out of many of the statutory requirements by providing otherwise in the LLC agreement.